Japanese selling JPY large – BTMU

By FXStreet FXStreet (Guatemala) – Analysts at Bank of Tokyo Mitsubishi explained the conditions surrounding USD/JPY.

Key Quotes:

“Despite the terrorist attacks in Paris last weekend, the stock market and USD/JPY have not been shaken yet. The latest Japanese GDP report which showed a technical recession has little impact on USD/JPY as well. Japan’s improving trade balance is helping to dampen further upside potential for USD/JPY.”

“The widening in the USD/JPY basis swap is attracting market attention driven by massive JPY selling flows by Japanese investors. The BoJ left its monetary policy intact, though it added a phrase about the weakness of price developments. The dovish shift in communication leaves the yen more vulnerable to the downside although the likelihood of imminent BoJ easing remains low.”
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Source:: FX Street